What to expect from Salt Lake's housing market in 2026
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The Salt Lake metro housing market is expected to stabilize next year as more homes come on the market, according to a new Realtor.com forecast.
Why it matters: Utah — the ninth-most-expensive state to buy a home last year — saw housing prices surge during the pandemic, straining affordability for prospective homebuyers.
By the numbers: The real estate website predicts home sales in Salt Lake will increase about 4%, with prices rising almost 2%.
What they're saying: "Buyers in Salt Lake City will have a little bit more buying power than they did this year," Hannah Jones, a senior economic research analyst at Realtor.com, told Axios.
- She noted there's more inventory in Utah's capital due to new construction activity.
- That's good news for buyers, she said, because more options on the market may take some pressure off pricing.
- She also predicts mortgage rates will fall next year, giving homebuyers more confidence that their dollars will stretch further.
The intrigue: Outside of Utah, residents in Maricopa County, Arizona, and Arapahoe County, Colorado, have shown the greatest interest in Salt Lake's market, according to online traffic measured by Realtor.com in the third quarter of the year.
- Counties in Utah that have seen the most engagement in the market include Utah, Davis and Weber.
What we're watching: While Utah is adding homes, as the fast-growing state, it will still need more than 840,000 additional units over the next 30 years to meet demand, according to a study by Envision Utah and the Governor's Office of Economic Opportunity presented to lawmakers in October.